December 2025 Surrey Market Update

A Year Ending with Balance - and Opportunity

December marked a notable shift in market dynamics. While 2025 overall was one of the slowest sales years in over two decades, December closed with conditions stabilizing across the Fraser Valley. Seasonal slowdowns in new listings helped bring the market back into balanced territory, creating a more level playing field for both buyers and sellers.

Across the Fraser Valley

The Fraser Valley Real Estate Board processed 919 MLS® sales in December, down 2.5% from November and 7.5% lower than December 2024, reflecting the typical year-end slowdown .

New listings dropped sharply - down 39% month-over-month - allowing overall inventory to tighten to 6,965 active listings. This shift lifted the sales-to-active listings ratio to 13%, placing the region firmly back into balanced market territory to close out the year.

Benchmark prices across the Fraser Valley continued their gradual adjustment, with the composite benchmark price down 0.7% month-over-month and 6.0% year-over-year, reflecting ongoing affordability pressures and cautious buyer sentiment.

A Closer Look at Surrey

Surrey remained the largest and most active market in the Fraser Valley, accounting for nearly half of all 2025 sales across the region .

In December specifically:

Detached benchmark prices in Surrey eased 1.2% month-over-month, sitting at $1,484,100, down 7.2% year-over-year.

Townhomes in Surrey showed relative resilience, with the benchmark price up 0.7% month-over-month.

Apartment benchmark prices declined 0.6% month-over-month, reflecting continued affordability sensitivity among entry-level buyers.

 Despite softer prices, Surrey saw steady sales activity, particularly in townhomes and apartments, as buyers took advantage of improved selection and negotiating power.

Jon’s Take

“December quietly did something important - it rebalanced the market. With inventory pulling back and the sales-to-active listings ratio moving back into healthy territory, Surrey is entering 2026 on much more stable footing than many headlines suggest.

What stands out to me is where activity is holding: townhomes and well-priced detached homes continue to move, especially when they’re positioned correctly. For buyers, winter still offers leverage. For sellers, the market is far more sensitive to pricing and presentation - but the right strategy absolutely gets results.”

— Jon Pereira | RE/MAX